US flat-rolled steel prices were largely stable Wednesday, as buyers reported most domestic mills were continuing to hold offers to higher announced pricing, particularly in the hot-rolled coil market.
The daily Platts TSI HRC assessment was calculated at $619.25/st, stable day on day.
Transactions continue to be light this week, source said. A US mill reported selling 100 st at $620/st Tuesday.
"I haven't heard of anyone that is selling below $620/st," a US service center source said, adding that some mills are quoting some hot-rolled items at a $640/st base. "I think the outages and lack of inventory are starting to show through," he said.
Another service center source said he still though some mills may be willing to sell HRC closer to $600/st, but said that he was not buying any spot material this week.
The second service center source said he was still seeing offers at $600/st from two mills, but acknowledged that others were keeping offers higher.
The daily Platts TSI US CRC assessment, meanwhile, was calculated at $806/st Wednesday, up 50 cents day on day.
The second service center source said he was seeing CRC offers around $800/st, but noted there are some mills selling above and below this level.
"A couple of mills have raised their prices, but with some others we're just not seeing the increase," he said.
The combined Platts TSI price indices use a volume-weighted average calculation -- according to TSI's standard -- to determine value on an ex-works Indiana basis.
